Kobylkin: Investment in Yamal projects exceeds $100 bn to 2025

Investment in projects in the Yamal-Nenets Autonomous Area will exceed $100 billion until 2025, said Yamal Governor Dmitry Kobylkin at an international meeting of Arctic Council member countries in Sabetta.

"Yamal not only provides Russians with heat and light, but also supplies natural gas to dozens of countries. Our investment projects are among the most promising in the world, with an investment volume exceeding $100 billion until 2025," TASS agency quoted Kobylkin as saying.

According to the governor, over 60 of the largest energy companies are in Yamal, including Gazprom, Rosneft, Lukoil, Novatek, Gazprom Neft, Transneft, French Total, Chinese CNPS and the Silk Road Fund.

"Our Japanese partners have expressed their intention to take part in the projects, and the list is open. Major industrial facilities in Yamal have become a new force in the Arctic: the Arctic Gate oil terminal has opened, as well as the Zapolyarye-Purpe and Bovanenkovo-Ukhta 2 oil pipelines that fill Nord Stream," Kobylkin said.

He also said the Yamal-Nenets Autonomous Area was becoming a new logistics hub for the Northern Sea Route. "The core is the Arctic Energy transportation project to build the Northern Latitudinal Railway and the Bovanenkovo-Sabetta railway line and to develop the Sabetta Seaport. The transport corridor will allow for delivering cargo from new, hard-to-reach deposits, and will open the Northern Sea Route to various Russian companies. It will be beneficial both for exporters and importers, Kobylkin added.